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Less Than Truckload Carrier

All articles tagged with #less than truckload carrier

business2 years ago•4 min saved

XPO Acquires 28 Yellow Terminals in $870 Million Deal

XPO Inc., a less-than-truckload carrier, has agreed to pay $870 million for 26 owned terminals and two leased properties previously operated by bankrupt Yellow Corp. in a managed sale of assets. The auction saw 128 out of Yellow's 169 owned properties sold to 21 different buyers, bringing in nearly $1.9 billion. XPO's offer was among the largest, while Old Dominion Freight Lines, another top suitor, did not acquire any properties in this initial sale. The auction is ongoing, with 46 owned properties remaining to be sold.

via Transport Topics|

#auction #business #less-than-truckload-carrier

business2 years ago•4 min saved

"Yellow's Financial Woes: Analysts Weigh in on Possible Bankruptcy"

Yellow Corp, the third-largest less-than-truckload carrier in the US, is facing financial difficulties and has filed a $137 million lawsuit against the Teamsters union, accusing them of blocking proposed operational changes. The company has also asked to delay contribution payments and sought help from the White House, but its cash is expected to be depleted by mid-July. Industry analysts predict that if Yellow fails, union carriers like ABF Freight and TForce Freight could benefit the most, while competitors like Old Dominion and Saia may see significant earnings accretion. Yellow's struggles have already resulted in a decline in tonnage and customers seeking alternative transportation options.

via FreightWaves|

#bankruptcy #business #less-than-truckload-carrier